Home » livecoinwatch api » The reason for this wasgoed unclear, part of it could be a bad timing and some people calling it a scam or “ShadowCash clone” repeatedly.

The reason for this wasgoed unclear, part of it could be a bad timing and some people calling it a scam or “ShadowCash clone” repeatedly.

The reason for this was unclear, part of it could be a bad timing and some people calling it a scam or

SpectreCoin (XSPEC) is a privacy-focused cryptocurrency. A part of the community, including the previous core developer of SpectreCoin, jbg, split off to a project called Wisp, albeit there has not bot a fork on the blockchain level yet. The SpectreCoin project is presently lead by the diferente founder Mandica.

Both projects aim to be a privacy-focused general-purpose cryptocurrency, while SpectreCoin is managed ter a professional style by Mandica, and Wisp is a community-centric project that emphasizes democracy and decentralization.

Contents

Community

  • SpectreCoin Discord: https://discordapp.com/invite/ckkrb8m
  • Wisp Discord: https://discordapp.com/invite/2YUewTX

It would be good to have a few more linksaf here to up-to-date information, other than the Discord linksaf. With that wij can most likely eliminate the stuff below. I.e. linksaf that contain information substituting the stuff below.

SpectreCoin (XSPEC) is an innovative privacy focused cryptocurrency, featuring an energy-efficient proof-of-stake algorithm that provides rapid transaction confirmations, stadionring signatures for privacy and anonymity, and a fully integrated Tor+OBFS4 layer for IP obfuscation within the wallet. Spectrecoin is actively developed, with an ambitious roadmap that prioritises privacy, security, and true decentralisation with features such spil default stealth addresses and stealth werkstaking, and low-power mobile wallet werkonderbreking ter our upcoming Android wallet. – Official FAQ.

Spectrecoin can be exchanged on Cryptopia.

The objective of Spectrecoin is to combine a blockchain with a tokenized ring-signature scheme to build a system of anonymous digital contant. The ring-signature scheme used here wasgoed very first introduced by ShadowCash, and is now being improved on by the Spectrecoin developers. For network-level privacy, all knots communicate exclusively within the Tor network via hidden services. The priorities of the Spectrecoin project are on privacy, technical soundness and plainness. The Proof-of-Stake overeenstemming method is used to provide environmental friendliness, decentralization and transaction speed. The project is built around open participation, development is funded through an innovative staking-reward donation system.

Related movie: Roll a coin – The Kelly Family


Please also take a look at the Official FAQ and a slightly different FAQ by Gandalf86: https://github.com/bitcoinx2/spectre/wiki/FAQ

Specifications

Explain like I’m five!

What is SpectreCoin? It’s a cryptocurrency that wij want to be spil private spil physical metselspecie!

Why? Because wij believe that when making financial transactions, privacy is utterly significant! Nowadays, when you send money to someone else (e.g. via bankgebouw transfer, credit card, PayPal etc.), then your transactions will be tracked and logged by somebody. Whoever can access that gegevens, can exactly see who you are paying, what you are paying for, how much money you have etc.. On the other arm, more and more countries are abandoning physical specie! Wij think that this is a very alarming development, because when everything is digital, privacy of information is utterly significant.

But of course, being able to make digital payments is totally necessary nowadays (and it’s more comfy than physical specie, too!). So with SpectreCoin, wij want to create a fresh kleuter of “digital specie”, that is spil private spil physical specie, but can be sent and received with a pc or a smartphone. To make it spil private spil aut茅ntico specie, wij use a certain combination of clever technologies, that makes this coin unique.

How do you do it? Our fresh currency is somewhat similar to Bitcoin, but wij have made some switches. The very first difference is that our program (the wallet) does not directly communicate with other people, but only via a series of middlemen. For this, wij use the “Tor network”. This is necessary because otherwise, the internet providers (or governments) could still figure out who is sending the money, or censor the use of SpectreCoin. Wij even opoffering a way to hide the fact that wij are using Tor! 馃榾 This technology is called OBFS4.

The 2nd difference is that ter Bitcoin (and many other cryptocurrencies), everything is logged on the blockchain. Wij opoffering a way to hide where the money is going to and where it comes from, using a technology called “stealth transactions”. More details can be found ter the Anonymity section.

The third thing that makes us different from Bitcoin, is that Bitcoin (like many other projects) uses a certain method of reaching overeenstemming on the network, which is based on making lots of random computations with some very powerful computers (called “mining”). Wij don’t like that method for numerous reasons:

  • It’s a fat waste of energy, which is bad for the environment! Wij should embark thinking long-term and use sustainable technologies.
  • Only few people can afford operating thesis mining farms, which means that relatively few people control the network! This is exactly not what wij want, wij want give control back to the people.

That’s why wij use a different method, called Proof-of-Stake (PoS). This method is very energy efficient and cost efficient, which means that every user can contribute to building a overeenstemming on the network! And if you do it, you will get 5% of your oscilaci贸n vanaf year spil a prize.

But why do I need all of this? Maybe you don’t need the privacy, but spil a entire society, having a private payment method like this is undoubtedly needed! That’s why wij want everybody ter the world to use our currency. 馃檪

Does it actually work? Yes . but there are still some things that wij want to improve. For example, at the ogenblik you have to explicitly choose if you want to make a stealth transaction, otherwise the transaction is public. Wij want to make this the default. Also, for Proof-of-Stake, your c谩lculo vereiste be public. Wij want this to work with private balances te the future. Wij also want to make a mobile App for SpectreCoin, and make a fresh wallet for the PC that is lighter to use. There are so many things wij want to do! 馃檪 But wij have some very brainy developers that wij pay from our werkonderbreking prizes (from PoS), who are working like crazy! 馃榾 So hopefully it shouldn’t take too long. But even at the current stage, wij can offerande some pretty ge privacy, even better than some other of the so-called anonymous cryptocurrencies!

How can I join? There are many friendly people te our SpectreCoin community! Everybody can join, either to get help or to contribute to the project. You can download the software from our webstek (see the Download section), get some Spectre coins (see Exchanges) or join our community using the linksom at the bottom of this pagina! 馃檪

History

Note: All past release notes can be found on the Github release pagina: https://github.com/spectrecoin/spectre/releases

SpectreCoin wasgoed created te 2018 to improve on the concept of ShadowCash (SDC). The ICO took place commencing Nov 20, 2018, until Jan 8, 2018. The purpose wasgoed to add Tor integration to the ShadowCash codebase, and further extend the concept of an anonymous currency to target remittances via a mobile application, using a system inspired by Hawala. To release the ICO funds through an escrow, the Tor integration part wasgoed finished and submitted a few days after the ICO had ended.

Unluckily, only few funds could be acquired during ICO, totaling to

16,000 USD at that time). The reason for this wasgoed unclear, part of it could be a bad timing and some people calling it a scam or “ShadowCash clone” repeatedly. Still spil planned, the entirety of 20 Mio. XSPEC wasgoed proportionally distributed to the participating investors, resulting te an astonishing ICO price of only 83 sat on promedio (most investors paid more like 90 sat vanaf coin, due to a premie system to benefit early birds during ICO). Spil soon spil the Tor integration wasgoed submitted and the coin wasgoed listed on exchanges, it wasgoed traded at a more realistic price of 1000-2000 sat, leading to a very high initial terugwedstrijd for ICO investors. A large portion of the money acquired through the ICO wasgoed instantly spent on paying the contracted developers for their initial development work.

Since April 2018, the ShadowCash project has bot abandoned for a fresh project of the ShadowCash developers called Particl, which ultimately stopped the accusations of SpectreCoin being a ShadowCash clone.

During summer 2018, SpectreCoin founder mandica began facing serious health issues and eventually transferred overheen the project leadership to lead developer jbg, who is now developing the coin.

Aug 9, 2018, SpectreCoin version 1.Trio.0 wasgoed released by jbg. This update immobile a lotsbestemming of issues te the old codebase, updated Tor, included a 32-bit binary for Windows and added support for the OBFS4 obfuscation protocol. Also, a fresh webstek wasgoed created on https://spectreproject.io/ with updated information and a fresh, clean vormgeving to display the philosophy of the fresh project leadership.

From Aug 20 to Aug 25, 2018, the community raised

37,500 XSPEC and 1 BTC (which wasgoed about

$4000 USD at that time) to fund development, which permitted jbg to abandon his job and work spil a full-time developer for SpectreCoin.

Related movie: The Kelly Family 鉂わ笌 Spin a coin 鉂わ笌 Diksmuide (Belgium) 2004


Sept Ten, 2018, an ex-colleague of jbg, @brycel, joined the project spil a cryptographer ter order to improve the stealth transaction mechanism, so that it could be used spil the default transaction mechanism ter future versions. Brycel wasgoed originally paid by Mandica from hier own pocket to work for 1 month.

Sept 11, 2018, wallet version 1.Three.1 wasgoed released by jbg, which addressed a visual bug ter previous wallet versions that had become known spil the infamous zero-balance bug, because it made the users balanceo emerge spil zero. Furthermore, this release wasgoed the very first to include a binary for Apple MacOS. A switch to the stealth transaction mechanism wasgoed introduced so that the wallet permits for non-anonymous stadionring signatures with only 1 or Two members. The reason for this wasgoed that at that stage, the network often did not have enough participants for stadionring signatures to do a total stadionring signature transaction. On the same day, version 1.Three.Two wasgoed released that immobile a minor bug te version 1.Trio.1.

Sept 12, 2018, version 1.Three.Trio wasgoed released, which fixes some further GUI issues, and brings swifter wallet startup and sync spectacle.

During October 2018, the community raised extra funding for Brycel so that he could proceed working on the project.

Wallet version 1.Three.Four with an updated Tor version, updated knot list and a fresh “werkstaking prize donation system” wasgoed to be released on Jan 8, 2018, but got delayed due to a leveldb transition kwestie and a Qt4 bug on Windows. The decision wasgoed made to skip 1.Trio.Four and instead port the wallet to Qt5, which would become version 1.Three.Five.

Jan 16, 2018, wallet version 1.Trio.Five got released. With this release, a fresh project funding mechanism wasgoed introduced, that permits users to donate a certain percentage of their werkonderbreking prizes to the developers of Spectrecoin. The donation is probabilistic, and by default 5% of the werkstaking prizes are donated, which means that on promedio, every 20th werkstaking prize will be accounted to the official donation address instead of the user’s address. By donating up to 100% of their werkonderbreking prizes, users can determine to financially support the development team on an ongoing voet, ter order for them to be able to grow the team and hire extra full-time developers.

Current development

The upcoming wallet version is version 1.Four. For more informatie, see http://spectreproject.io/roadmap/

Anonymity

Note: This section is still work ter progress.

Related movie: 26.08.2007 Berlin / Kelly Family – Spin A Coin


Receiver anonymity: To receive a payment without exposing your identity, you can create a “stealth address”. Now there are Two cases:

  • If the sender determines to send you a publicly visible payment, it will be accounted to a fresh, unused public address. You can by hand transfer this to private c谩lculo by “minting” the coins if you want, or send it somewhere else using a public transaction.
  • If the sender determines to send you a private payment, it will be accounted to your private c谩lculo. This does not directly reflect on the blockchain.

Sender anonymity: To send a payment without exposing your identity, you very first have to transfer your coins to private movimiento. When making a transaction, you can choose whether to account the arqueo to the public or the private movimiento of the receiver. When sending from private c贸mputo, our ring-signature scheme is being used.

The case when sending from private comprobaci贸n to private balanceo, which is anonymous for both the sender and the receiver, wij call a “stealth transaction”.

Pitfalls: If you transfer some part of your public movimiento to private balanceo, and then directly send the utter amount to someone else, this payment could be linked back to your public address. For this reason, you should always store more coins spil private comprobaci贸n than you are programma to send! The same problem also applies to all Zerocoin implementations, for example. You are responsible for protecting your own privacy! SpectreCoin is just a instrument to help you with that, but it does not protect against misuse.

Whitepaper: There is the llamativo ShadowCash whitepaper (PDF), however wij found that it has numerous quality problems (it is incomplete, veranderlijk and copied&pasted from other sources to a large degree). The SpectreCoin developers will release their own whitepaper together with Spectrecoin version Two.0, which will include the switches made to the llamativo ShadowCash implementation (which, ter tegenstelling to the whitepaper, does a good job), and additionally a description of the fresh and innovative “stealth werkstaking” mechanism that is planned for that version.

Related movie: BITCOIN Metselspecie FUTURE | PRICE 100%


This is how a stealth transaction presently looks like on the block explorer: Verbinding

Tor integration

Many cryptocurrencies today support connecting your wallet to other knots on the network through Tor ter some way. With thesis coins, other knots are still addressed by their IP address, but each user has the choice to hide his IP address by routing his traffic through several hops on the Tor network, including one entry and one uitgang knot. Such a scheme has several downsides. For example, the uitgang knot can read the unencrypted traffic that goes from a knot that uses Tor (A), to a knot that doesn’t use Tor (B), and can act spil a man-in-the-middle. Furthermore, uitgang knots could collaborate and prevent A (or any cryptocurrency user that attempts to use Tor) from doing transactions altogether. Ultimately, if not every coin knot uses Tor, an attacker could ontleden the network structure at the unprotected knots and maybe use timing analysis attacks or correlation attacks to deanonymize knots that are routing through Tor.

Te SpectreCoin, all knots on the network are operating spil Tor hidden services. They are not addressed by their IP address, but by their .onion address which encodes a public key used for traffic encryption along with a way to find a route to that knot. No uitgang knots are involved, and at any point ter time, the communication inbetween two knots is fully encrypted. SpectreCoin comes bundled with the latest Tor software that has bot included without any functional switches. It is not possible to connect to the SpectreCoin network without using Tor, spil all knots are only reachable via their hidden service address. No actual IP addresses are known to any network participant except for their own, and it is infeasible for an attacker to analyze the network structure or censor the network.

OBFS4

SpectreCoin has inbuilt support for OBFS4 to use it with Tor Pluggable Transports. OBFS4 is an obfuscation protocol that hides the nature of the traffic that goes through it. By incorporating OBFS4, it is possible to use SpectreCoin even te countries where access to the Tor network is censored, like China or Iran. It is presently the recommended pluggable wegtransport of the Tor project. More informatie can be found on the Pluggable Transports pagina of the Tor webstek.

A guide on how to set up OBFS4 can be found on the Spectrecoin homepage: https://spectreproject.io/guides/obfs4/

Comparison with other coins

Te this section wij will reaction the common question of “How does SpectreCoin compare to X?”, where X is one of the following coins.

CloakCoin

  • Both CloakCoin and SpectreCoin use PoS only and don’t have masternodes.
  • CloakCoin has 6% inflation, SpectreCoin has 5% inflation.
  • Both have a block time of 60 seconds.
  • CloakCoin uses the proprietary terms “CloakShield” and “ENIGMA transactions”, while SpectreCoin uses Tor and stadionring signatures. This makes SpectreCoin technology lighter to understand.
  • CloakCoin seems to also target applications sending gegevens inbetween each other via the CloakCoin network, while SpectreCoin concentrates on being simply a currency.
  • While CloakCoin has its own onion routing network, SpectreCoin is part of the official Tor network. This makes SpectreCoin more anonymous (spil there are much more knots participating te the network), and more difficult to censor.
  • CloakCoin’s ENIGMA protocol seems to be based on mixing, whereas SpectreCoin uses untraceable stadionring signatures that wij find to be more efficient and also more secure: Stadionring signatures (using private fixed-size tokens) are information-theoretically anonymous, while mixed transactions could possibly be prone to correlation attacks and malicious knots.
  • All funds are visible on the blockchain, whereas ter SpectreCoin, funds that are stored spil private arqueo (tokens for stadionring signatures) are not publicly visible.

DeepOnion

Note: This comparison wasgoed liquidated due to repeated removal or disturbance of our explanation regarding the numerous problems that wij see with DeepOnion. The SpectreCoin project does not consider DeepOnion to be a serious competitor te any of the objectives covered by SpectreCoin. Please use the article about DeepOnion and other resources to do your own research.

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3 thoughts on “The reason for this wasgoed unclear, part of it could be a bad timing and some people calling it a scam or “ShadowCash clone” repeatedly.

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